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Prime

Cold Storage Transaction FAQs

How do I check the status of my Coinbase Prime or Coinbase Custody cold storage withdrawal transaction? 

All Coinbase Prime and Coinbase Custody cold storage withdrawals can be managed through the Custody Execution tab. 

Please refer to the following guide for more detail:

 Execution Tab Section  Status ExplanationNext Steps Available 
Execution

Frozen – Withdrawal approved but not yet processing.

Uploaded or Decrypted – Withdrawal transaction in process. 

Transactions are currently being processed or will soon be processed in the next batch. 

No action needed. The transactions will be processed in the next batch.
Execution

Delayed – Blockchain processing is delayed.

Failed – Withdrawal ransaction failed to process.

Transactions are delayed or failed. Contact your account representative.
Execution Prep - Awaiting Authorization

Transaction requested

Withdrawals have been requested and are waiting to be processed. One of the following may be the case:

  • Video calls have not been completed;

  • Video calls have been completed but not reviewed/approved yet by the processing team; or

  • An ongoing incident is blocking a withdrawal.

No action needed.
Execution Prep - Awaiting InitiationWithdrawal created

 

Withdrawals have been initiated but consensus has not been met. 

 

Your team must achieve consensus for the withdrawal.
Transaction is not shownNoneWithdrawal has either not been initiated or has already completed.

Navigate to your Organization page > Transaction tab > Filter Type to “Withdrawal” –

  • If no transaction exists, it has not been initiated;

  • If the transaction is there with the status “Completed” it has already been processed.

Why has my withdrawal not been processed yet? 

Some reasons your withdrawal may not have been processed could include: 

  • You have not met in-app consensus. Check the transaction status in the Custody admin section: 

    • Navigate to your account page. 

    • Go to the transactions tab. 

    • Click on the transaction in question. 

    • In the timeline, if the next item in the timeline is “Awaiting Approval” then consensus has not been met. 

    • If the next item is “Awaiting Authorization” then consensus has been reached.

  • You have not completed the required pre-withdrawal video call. 

  • You missed the cut off for the next available batch of withdrawal transactions. In this case, the withdrawal will be included in the next available batch.

  • An asset-specific or cold storage-related incident has blocked your transaction from being processed. Check the Custody Status page for more information.

  • A processing error has prevented your withdrawal from being processed. Processing errors are rare, but if none of the reasons listed above explain why your transaction has not been processed, then contact your account representative to determine if a processing error has caused your withdrawal to fail.

How long does it take to process withdrawals?

Withdrawals usually take between two and three hours to complete processing from the batch start time. Delays due to issues met while processing may also occur. If your transaction has been processing for more than four hours and none of the information above reveals the cause of the delay, contact your account representative.

How can I see my withdrawal transaction on the blockchain? 

All cold storage transactions will be recorded on the relevant blockchain and each transaction will include a link to this information admin and in the client’s UI. 

To view this in admin:

  • Navigate to your account page > Transaction tab > Filter Type to “Withdrawal.”

  • Click the the transaction in question.

  • Click the link icon to see the transaction on the blockchain.

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